Meta and Blue Owl strike US$2.3bn equity JV for Hyperion campus

For the US$2.3bn equity investment which forms part of the total US$29.5bn financing package for Meta and Blue Owl’s 5GW Hyperion data center campus.

Financial Advisors: Morgan Stanley (Meta)

Legal Advisors: Latham & Watkins (Meta); Eversheds Sutherland (Meta); Kirkland & Ellis (Blue Owl)

Meta and Blue Owl structure US$27.3bn Project Beignet JV financing

The US$27.3bn structured joint venture between Meta Platforms and funds managed by Blue Owl Capital to develop the Hyperion AI data center campus in Richland Parish, Louisiana, a 2.1GW campus spanning 2,700 acres.

Lenders: PIMCO

Financial Advisors: Morgan Stanley (Exclusive Financial Advisor to Meta, Sole Bookrunner)

Crown Castle’s US$4.25bn fiber unit sale to Zayo

For Crown Castle’s US$4.25bn sale of its fiber solutions business to Zayo.

Financial Advisors: Morgan Stanley, Bank of America (Sell Side); PJT Partners, JPMorgan, UBS (Buy Side)

Legal Advisors: Paul, Weiss, Rifkind, Wharton & Garrison (Sell Side); Simpson Thacher & Bartlett (Buy Side)

Zayo secures US$4.1bn ABS financing for Crown Castle fiber buy

For the US$4.1bn financing supporting Zayo’s acquisition of Crown Castle’s Fiber Solutions business, comprising a US$3.2bn senior ABS warehouse facility and a US$900m junior warehouse facility (c.91% loan-to-value).

Banks and Lenders: Morgan Stanley (Administrative Agent); Citi (Collateral Agent and Verification Agent); Morgan Stanley, Deutsche Bank, JPMorgan, TD Securities, RBC, Barclays, Goldman Sachs, ING, Natixis, Citi, UBS, Citizens (Joint Lead Arrangers and Joint Bookrunners)

Legal Advisors: Simpson Thacher (Zayo/DigitalBridge); King & Spalding (Crown Castle)

EQT acquires Crown Castle small cells in US$4.25bn carve-out

For the c.US$4.25bn sale of Crown Castle’s small cells business to EQT’s Active Core Infrastructure fund.

Financial Advisors: Morgan Stanley, Bank of America (Sell Side); TD Securities (Buy Side)

Legal Advisors: Paul, Weiss, Rifkind, Wharton & Garrison (Sell Side); Kirkland & Ellis (Buy Side)

Bluebird Fiber wins US$384.6m Everstream auction

Sale through an in-person auction of Everstream, resulting in Bluebird Fiber acquiring substantially all of the company’s assets and operations for US$384.6m.

Financial Advisors: Bank Street (Sell Side M&A); PJT Partners (Sell Side IB); Alvarez & Marsal (Sell Side restructuring); TD Securities (Buy Side)

Legal Advisors: Weil, Gotshal & Manges (Sell Side); Richards, Layton & Finger (Sell Side Special Counsel); Kirkland & Ellis (Buy Side)

I Squared Capital takes majority stake in Brazil’s Elea Data Centers

The acquisition by I Squared Capital of a majority stake in Elea Data Centers.

Financial Advisors: Banco Bradesco BBI, UBS BB Serviços de Assessoria Financeira e Participações, BTG Pactual (Sell Side)

Legal Advisors: Davis Polk & Wardwell, Pinheiro Neto Advogados (Sell Side); Simpson Thacher & Bartlett, Mattos Filho (Buy Side)

Blackstone

Altman Solon

Aligned Data Centers

Milbank

For work including advising Apollo, Blackstone and co-investors on the US$35bn capital solution for Broadcom’s AI XPV platform.

Andrew Schaap, CEO, Aligned Data Centers

Anton Moldan, Senior Managing Director, Macquarie Asset Management

Alexander Ramirez, Senior Managing Director, Guggenheim Securities

Rich Myers, Managing Director, Morgan Stanley

Jaime Ramirez, Partner, Milbank

Madelyn Brennan, Principal, DigitalBridge

Bank Street

Morgan Stanley

Kirkland & Ellis

TD Securities

Milbank